Lane Keep Assist System Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Lane Keep Assist System Market Data

Lane Keep Assist System Market Trends & Drivers

Increase in Demand for Convenience and Safety while Driving

• The rise in the number of road accidents every year is a major reason for the increase in the demand for safety features in automobiles.
• Governments all over the globe are forcing manufacturers in the automotive industry to develop and introduce safety features in their vehicles, as per the prevalent laws.
• Features such as lane keep assist, parking assistance, and lane departure warnings are experiencing a rise in demand due to the need for convenience and safety in vehicles.
• The lane keep assistance system makes use of advanced technologies, such as AI, infrared sensors, and cameras, to examine the path of the automobile. Data from these sources is used for providing real-time feedback and corrective steering interventions, in order to reduce the probability of a collision.

Rise in Demand for Autonomous and Semi-Autonomous Vehicles

• The market for lane keep assist systems is driven by a surge in the demand for advanced autonomous and semi-autonomous driving technologies, such as adaptive cruise control, self-parking, automatic emergency braking, and ADAS, which minimize drivers’ workload and improve overall vehicle safety. 
• Semi- and fully autonomous automobiles have the ability to navigate on their own or with minimal human interaction because they have various sensors, cameras, and LiDAR and radar systems.
• The electrification of automobiles is creating new opportunities in the field of vehicle automation. The demand for comfort and luxury in fully and semi-autonomous vehicles will fuel the need for advanced technologies, including traffic sign recognition, tiredness monitoring, and night vision. Because of this, the vast majority of the OEMs, auto parts suppliers, and driving technology vendors are making significant investments in autonomous vehicles.

Sensor-Related Software Issues

• Sensor-related issues are a major setback for the lane keep assist market as they affect the functionality and effectiveness of the system. Depending on where and how it occurs, the bug can cause a major accident.
• The reasons for some system-related software issues are sensor calibration errors, sensor obstruction, adverse weather conditions, software bugs, and glitches.
• To mitigate these problems, engineers must work to improve the sensor technology and software algorithms. Thus, improving the dependability and efficiency of the lane keep assist system under different driving conditions can create a few challenges.

Lane Keep Assist System Industry Outlook

Component Insights

• In the component segment of the market, the vision sensor/camera category held the largest revenue share, of around 40%, in 2023. This is due to the rise in the need for autonomous driving features, for which advanced technologies, such as LiDAR, infrared, ultrasonic, and RADAR, are needed.
• Governments are asking manufacturers mandatorily to install these sensors and cameras in vehicles for the betterment of the customer.
• The ECU category is expected to have the highest CAGR, of 23.8%, in the forecast period. The reason for this growth is the need for more-powerful software that can perform complex calculations detect objects, track movement, and make correct decisions.

Below are the components that were studied in the report:

• Vision Sensor/Camera (Largest Category)
• Electronic Power-Assisted Steering (EPAS) Actuator
• Electronic Control Unit (Fastest-Growing Category)
• Others

Function Insights

• In this segment, the lane-keeping system held the larger market share, of around 70%, in 2023. This can be attributed to an increase in the demand for safety and convenience in the automotive industry. This system can assist with steering to drive the vehicle in its lane.
• Whereas the lane departure warning system helps in detecting the unintentional turning and drifting of automobiles without a prior indication, whereupon it issues a warning to alert the driver.

The function types that were analyzed in the report are:

• Lane Keeping System (Larger and Faster-Growing Category)
• Lane Departure Warning

Vehicle Type Insights

• The passenger car category held the larger share in 2023, and it is also expected to have the higher CAGR in the forecast period, of 23.6%. Several nations in Europe, North America, and Asia-Pacific have passed regulations requiring the installation of various ADAS systems in passenger cars.

Below are the types of vehicles that were considered during the making of the report:

• Passenger Car (Larger and Faster-Growing Category)
• Commercial Vehicle

Propulsion Insights

• In the propulsion segment, the electric/hybrid category is expected to witness the higher CAGR, of 23.9%, during the forecast period. For example, the Model S by Tesla is capable of automatically steering itself and changing lanes and speed according to traffic and road conditions. All these features require sensors, cameras, and other advanced software.

The propulsion types that were analyzed in this report are:

• Internal Combustion Engine (ICE) (Larger Category)
• Electric/Hybrid (Faster-Growing Category)

Sales Channel Insights

• In the sales channel segment, original equipment manufacturers (OEMs) are expected to witness the faster growth due to the ease of installing electronic systems in vehicles during the manufacturing process itself.
• Additionally, consumers like to purchase vehicles with pre-installed lane-keep assist systems directly from dealerships.
• Whereas, aftermarket sales involve the distribution and installation of lane keep assist systems in vehicles after they have been purchased and are already on the road. This can be done by vehicle owners themselves (DIY retrofits) or through aftermarket service providers.

The sales channels studied in the report are:

• Original Equipment Manufacturer (OEM) (Larger and Faster-Growing Category)
• Aftermarket

North America is the Largest Region

• North America held the largest market share, of around 45%, in 2023, followed by Europe and APAC. The Government of the U.S. is asking vehicle manufacturers to integrate new safety features in their cars, to avoid any mishappening during driving and prevent the loss of life of drivers, passengers, and pedestrians and of property.
• The lane keep assist system and lane departure warning system help in eliminating the chances of human error during driving, by reducing driver fatigue and stress thus resulting in a high demand in the future. Thus, since this makes diving safer and more comfortable, the demand for these technologies will continue to increase in the continent.
• The Asia-Pacific will witness the fastest growth, at a CAGR of 24.0%, over the forecast period of 2024–2030. The reason for the growth in the APAC region is the increasing usage of advanced automotive electronics in countries such as Japan, China, and South Korea.

The regions and countries analyzed in this report include:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • U.K. (Fastest-Growing Market)
  • Germany (Largest Country Market) 
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan (Fastest-Growing Country Market)
  • India
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Largest Country Market)
  • South Africa
  • U.A.E. (Fastest-Growing Country Market)
  • Rest of MEA 

Market Nature - Consolidated

The major players in the market have a strong distribution network all over the globe, and due to technical complexities and high cost, these companies hold sway in this industry. The companies in the market offer a wide range of products, and they are continuously developing new technologies for the safety and comfort of the user. They are also focusing on taking various strategic initiatives, mergers, and acquisitions, agreements and contracts, and partnerships to enhance their position in the market.

Lane Keep Assist Systesm Companies News

• In February 2024, Continental won a contract to supply rear parking-assist system technology to Indian car manufacturers as a standard fitment in all cars.
• In May 2023, Continental India began working on an economical ADAS technology specially designed for Indian roads and carmakers.
• In March 2023, Siemens Digital Industries Software stated that MobileDrive has chosen a model-based systems engineering (MBSE) strategy to assist in the development of its ADAS. The partnership sees MobileDrive utilizing the Siemens Xcelerator portfolio and digital twin technology.
• In January 2023, NXP Semiconductors launched its 28-nm RFCMOS radar one-chip IC family for advanced autonomous driving and ADAS systems.
• In August 2022, Taiwan's Industrial Technology Research Institute (ITRI) and electric bus manufacturer Tron Energy Technology (Tron-e) collaborated to develop a lane-keeping assistance system for electric buses. In addition to being integrated into Taiwan-made vehicles, the system will be marketed to Southeast Asian consumers.